Even though we saw dollar plummet yesterday it seems that recovery didn’t make us wait for itself. Traders refused to drop dollar even after the GDP report that clearly wasn’t meant to pick the greenback up. But as we see dollar growing, there are other assets that need out attention as they can be the reason for our losses. And today it is gold. As we all know gold and dollar are like oil and water – if one grows, the other one is bound to lose price. And as dollar recovered after the losses, it pushed on gold.
Gold has lost a ton of price over the last 12 hours. The slide of this safe haven makes traders sell it fast in order to get to other options offered by the markets.
We still a full day of trading to go and there is still a possibility for gold to breach the ceiling with its price. Whether it is going to be used or not you can find out with our trading signals!
